tax calculation for A.Y. 09-10

to the best of my Knowledge,

1. H.P. Income (after deductions)                                 -                       67291

2. Interest Income                                                            -                       51119

3. Long Term Capital Gain                                             -                     227935

Less:- Deduction U/s 80-C                                            -                     (66378 )

Net income                                                                                               280608

Tax Payable

1) 280608-110000                                                                               170608

(170608*20.30%)                                                                                  34633

Less: TDs                                                                                                (641)

                                                                                                                  33992

In continuation to Mr.Raj Patel and in my opinion....

Net Income            280608

Tax on Normal Income  (280608-227935) = 52673 = 0 (below 1,10,000/-)

Tax on LTCG separately at 20%  (227935) = 45587 (no S.C & E.C)

less: TDS                                                          = (641)

Net tax payable                                                = 44946

and  234B, C will also apply, accordingly check with ur answer.